Intec Pharma Ltd. (NASDAQ: NTEC) today announced the pricing of its previously announced underwritten public offering of 16,250,000 ordinary shares (which includes pre-funded warrants to purchase ordinary shares in lieu thereof) and warrants to purchase up to 16,250,000 ordinary shares, at a public offering price of $0.40 per ordinary share. The warrants have an exercise price of $0.40 per share, are immediately exercisable, and will expire five years from the date of issuance. In addition, the Company granted the underwriter a 30-day option to purchase up to an additional 2,437,500 ordinary shares and/or warrants to purchase up to 2,437,500 ordinary shares at the public offering price, less underwriting discounts and commissions. The Company expects to receive gross proceeds of $6.5 million from the offering. The offering is expected to close on or about February 4, 2020, subject to customary closing conditions.
H.C. Wainwright & Co. is acting as sole book-running manager for the offering.